2745 Byron St 5 Unit Apartment Building Offered at $2,500,000 at a 2.85% Cap Rate Palo Alto, CA 94306

2745 Byron St is positioned on a quiet cul-de-sac in the highly desirable Midtown Neighborhood of Palo Alto, this multifamily property presents a compelling opportunity to acquire a stabilized asset in one of Silicon Valley’s most sought-after rental markets. The property benefits from consistently strong tenant demand driven by proximity to major employers, top-tier schools, and Stanford University.
The asset consists of 5 residential units with a highly marketable unit mix of (3) 2BD/1BA units and (2) 1BD/1BA units, appealing to a broad tenant base of professionals, couples, and small families. Two of the units have been upgraded with mini-split air conditioning systems, enhancing tenant comfort and supporting future rental upside. Residents enjoy convenient access to downtown Palo Alto’s dining, retail, nightlife, and cultural amenities, while remaining less than two miles from Stanford University and the city’s urban core.
Situated on a well-utilized lot in a prime infill location, the property offers long-term investment stability in a supply-constrained submarket. The quiet cul-de-sac setting further enhances tenant appeal by providing a more residential feel while still maintaining close proximity to major transit corridors and employment hubs.
The building has experienced select improvements with a newly re-paved driveway, upgraded dual pane windows and a newer roof installed in 2011, and with original kitchen countertops, cabinets and hardwood floors, this property keeps its original charm. New ownership may also explore operational efficiencies and expense reimbursement opportunities to further increase cash flow.